Cryptocurrency expert Geert van Lagen said that the Elliott Wave Theory points to Bitcoin rising to $300,000 by the end of March 2025.
Van Lagen опубликовал BTC price chart showing five waves:
- The first upward wave during which the price of Bitcoin increased from 2009 to 2011;
- A sharp correction that continued until the end of 2011;
- An impulsive upward wave observed from 2012 to 2017;
- Relatively smooth correction in 2018;
- An explosive upward wave that emerged in 2019.
Waves on the Bitcoin exchange rate chart
According to Gehrt, each blast wave has seen Bitcoin increase at an average angle of 78,4° until it reaches the upper line of the ascending channel. Accordingly, the current blast wave should end at block 890,000, which will likely be added to the network by the end of March, and the peak price of BTC will be around $300,000.
It's worth noting that van Lagen's predictions should be taken with a grain of salt for two main reasons. Firstly, in October 2024, he predicted the BTC rate will rise to $250,000 by the end of the year, while the coin price has barely exceeded $108,000. Secondly, one of the forum users Reddit under the nickname denfaina считает that the theory of cycles based on the wave theory will stop working in relation to BTC due to hyperbitcoinization, which is characterized by a significant excess of demand over supply of coins, because miners produce far fewer coins than issuers buy ETF , as well as public companies such as MicroStrategy.
